Guideline Value for BHARATHI HEAVY ELECTRICAL AVENUE

Bharathi Heavy Electrical Avenue guideline value

The current guideline value of Bharathi Heavy Electrical Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village and falls under the Pallavaram SRO. The land classification is Residential Class I Type - III.

How the guideline value of Bharathi Heavy Electrical Avenue has changed

The guideline value for Bharathi Heavy Electrical Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision when it dropped to Rs 1,474 per sq.ft. This was a decrease of 33%. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, marking a rise of 36% from the previous figure. The most recent revision in 2024 has further increased the value to Rs 2,200 per sq.ft, representing a 10% increase from 2023.

It is important to note that there are no registered figures for Bharathi Heavy Electrical Avenue in the years 2002, 2003, and 2007.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Bharathi Heavy Electrical Avenue's 2024 figure above this median.

• Bharathipuram Kattabomman Street: Rs 2,750 per sq.ft (2024)
• Bharadhamadha Street: Rs 2,200 per sq.ft (2024)
• Beriamman Nagar: Rs 2,420 per sq.ft (2024)
• Beriamman Koil Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram: Rs 2,750 per sq.ft (2024)
• Bharthipuram 1st Street & 2nd Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Heavy Electrical Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Heavy Electrical Avenue?

The Bharathi Heavy Electrical Avenue falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Nemilicherry

The guideline value plays a crucial role in the registration of property transactions in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Heavy Electrical Avenue?

The current guideline value of Bharathi Heavy Electrical Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, a 10% increase. The value had previously decreased from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017.

What are the stamp duty and registration fees for property in Bharathi Heavy Electrical Avenue?

For a property valued at the current guideline of Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Bharathi Heavy Electrical Avenue?

The Pallavaram Sub Registrar Office covers Bharathi Heavy Electrical Avenue, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Bharathi Heavy Electrical Avenue?

The land classification for Bharathi Heavy Electrical Avenue is Residential Class I Type - III. This classification indicates the type of development allowed in the area.